Case 14-11791-KG Doc 229 Filed 03/18/15 Page 1 of 23upshotservices.s3.amazonaws.com/files/a04e9297-9e... · Cash Disbursement Journal ... A bank reconciliation must be ... Trans.Date

Case 14-11791-KG Doc 229 Filed 03/18/15 Page 1 of 23

In re Ambient Corporation Case No. 14-11791 (KG) Debtor Reporting Period: 2/1/15 - 2/28/15

BANK ACCOUNTS CURRENT MONTH CUMULATIVE FILING TO DATEOPER. PAYROLL TAX OTHER ACTUAL PROJECTED ACTUAL PROJECTED

Beginning cash $273,880 $273,880 $0 $78,788 $78,759

RECEIPTS

CASH SALES

ACCOUNTS RECEIVABLE 58,616 82,593

LOANS AND ADVANCES 2,500,000 2,500,000

SALE OF ASSETS 5,000,000 0

OTHER (ATTACH LIST) 121 121 279,592 89,194

TRANSFERS (FROM DIP ACCTS)

TOTAL RECEIPTS $121 $121 $0 $7,838,208 $2,671,787

DISBURSEMENTS

NET PAYROLL 548,287 648,833

PAYROLL TAXES 239,015 295,672

SALES, USE, & OTHER TAXES 457 18,804

INVENTORY PURCHASES 23,022 72,678

SECURED/ RENTAL/ LEASES 75,770 115,657

INSURANCE 437,506 32,692

ADMINISTRATIVE 5,110 5,110 607,937 794,451

SELLING

OTHER (ATTACH LIST) 5,277,371

OWNER DRAW *

TRANSFERS (TO DIP ACCTS)

PROFESSIONAL FEES 54,892 54,892 487,132 639,999

U.S. TRUSTEE QUARTERLY FEES 13,000 13,000 19,500 25,000

COURT COSTS

TOTAL DISBURSEMENTS $73,003 $73,003 $0 $7,715,997 $2,643,786

NET CASH FLOW ($72,882) ($72,882) $0 $122,210 $28,001

(RECEIPTS LESS DISBURSEMENTS)

CASH - END OF MONTH $200,998 $200,998 $0 $200,998 $106,760

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)

$73,003

$73,003

PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is thefirst report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column mustequal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIALREPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal

must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

TOTAL DISBURSEMENTS

LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS

MOR (04/07)


Ambient Corporation

List of Other Cash Receipts

2/1/15 ‐ 2/28/15

Date Description Amount2/27/2015 Bank Interest BANK DEPOSIT INTEREST FROM 01/30 TH... Interest 0.95$

2/27/2015 Bank Interest PREFERRED DEPOSIT (BUS) Interest 5.00$

2/10/2015 DDS ADP PAYROLL FEES Payroll fees credit 115.00$

Total Other Cash Receipts 120.95$


Ambient Corporation

Cash Disbursement Journal

2/1/15 ‐ 2/28/15

Wire 2/4/2015 Funds Transfer WIRE TRF OUTP45035022055 (20,936.93)$ Professional Fees




Check 2/3/2015 17883 UPSHOT SERVICES (4,450.67)$ Professional Fees

Check 2/3/2015 17882 SHIPMAN AND GOOD (412.00)$ Professional Fees

Check 2/3/2015 17884 US TRUSTEE (13,000.00)$ Q4 2014 U.S. TRUSTEE QUARTERLY FEES

Check 2/3/2015 17881 ABRAHAM KIMELMAN (2,484.00)$ Administrative

Check 2/18/2015 17885 MARKS PANETH & S (2,345.00)$ Administrative

ACH 2/27/2015 Pre Authdebit ADP PAYROLL FEES (161.25)$ Administrative

ACH 2/19/2015 Journal Entry TRANSFR FEE P45050015369 (30.00)$ Administrative




Total January 15 cash disbursements (73,002.50)$ Total Administrative

`



Operating Payroll Tax Other# # # #

BALANCE PER BOOKS $200,997.95

BANK BALANCE 200,997.95(+) DEPOSITS IN TRANSIT (ATTACH LIST)(-) OUTSTANDING CHECKS (ATTACH LIST)OTHER (ATTACH EXPLANATION)ADJUSTED BANK BALANCE * 200,997.95* Adjusted bank balance must equal balance per books

DEPOSITS IN TRANSIT Date Amount Date Amount Date Amount Date Amount

CHECKS OUTSTANDING Ck. # Amount Ch. # Amount Ck. # Amount Ck. # Amount

OTHER

BANK RECONCILIATIONSContinuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.

MOR (04/07)


In re Ambient Corporation Case No. 14-11791 (KG) Debtor 2/1/15 - 2/28/15

Payor Fees Expenses Fees Expenses

Upshot Services 7-28-14 - 2/28/15 3,298.73 Ambient Corporation 1,610.50 2,840.17 37,011.39 41,819.75Bayard 7-28-14 - 12/31/14 16,574.65 Ambient Corporation 36,566.40 945.18 215,790.80 3,215.50Gavin Solmonese 7-28-14 - 12/31/14 6,260.00 Ambient Corporation 12,518.00 0.00 165,498.00 2,485.84Shipman & Goodwin 7-28-14 - 12/31/14 0.00 Ambient Corporation 412.00 0.00 21,300.40 11.21Total 26,133.38 51,106.90 3,785.35 439,600.59 47,532.30

Reporting Period:

This schedule is to include all retained professional payments from case inception to current month. SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

Amount Approved

Year-To-DatePayee Period Covered

Amount Paid

MOR (04/07)


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Your Financial Advisor:LAWRENCE C LIEBERS717 5TH AVE 7TH FLNEW YORK NY [email protected]

Primary Account: 847-02058

12/10 12/11 12/12 12/13 12/14 1/15 2/15

8.02

17

6.74

0.155 0.283 0.274 0.201

YOUR MERRILL LYNCH REPORT January 31, 2015 - February 27, 2015

PORTFOLIO SUMMARY February 27 January 30 Month Change

Net Portfolio Value $200,997.95 $273,879.50 ($72,881.55)Your assets $200,997.95 $273,879.50 ($72,881.55)Your liabilities - -Your Net Cash Flow (Inflows/Outflows) ($72,887.50) ($9,139.25)Securities You Transferred In/Out - -

Subtotal Net Contributions ($72,887.50) ($9,139.25)

Your Dividends/Interest Income $5.95 $5.64Your Market Change - -

Subtotal Investment Earnings $5.95 $5.64

Total Value (Net Portfolio Value plus Assets Not Held/Valued By MLPF&S, if any) in millions, 2010-2015

1005 1 of 9008

Up-to-date account information can be viewedat: www.mymerrill.com, where your statementsare archived for three or more years.

Questions about MyMerrill? Click the "help" tabat the top of the screen once you log in.

AMBIENT CORP7 WELLS AVE STE 11NEWTON MA 02459-3212

Investment Advice and Guidance:Call Your Financial Advisor

YOU MAY STILL BE ABLE TO MAKE A 2014 IRA CONTRIBUTIONuntil 4/15/15. If you earned income in 2014 and have not yet made an IRA contribution for 2014, you have until April 15, 2015, to complete your contribution. Call your financialadvisor today for details.

If you have questions on your statement,call 24-Hour Assistance:(866) 4MLBUSINESS(866) 465-2874

Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other subsidiaries of Bankof America Corporation. MLPF&S is a registered broker-dealer, Member Securities Investor Protection Corporation (SIPC) and a wholly owned subsidiary of Bank of AmericaCorporation. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value


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YOUR PORTFOLIO REVIEW January 31, 2015 - February 27, 2015

Primary Account: 847-02058 24-Hour Assistance: (866) 4MLBUSINESS

1005 2 of 9008

ASSET ALLOCATION** Estimated Accrued Interest not included; may not reflect all holdings; does notinclude asset categories less than 1%.

LabelŽCurrent Value Allocation

Cash/MoneyAccounts

200,997.95 100.00%

TOTAL $200,997.95 100%

TOP FIVE PORTFOLIO HOLDINGSBased on Estimated Market Value

Current Value% of

PortfolioL BANK DEPOSIT PROGRAM 155,237.00 77.23%DIC INSURED NOT SIPC COVERED

REFERRED DEPOSIT (BUS) 45,760.00 22.77%DIC INSURED NOT SIPC COVERED

CURRENT INCOME

$4$2$0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

This Report Year To DateTax-Exempt Interest - -Taxable Interest 5.95 11.59Tax-Exempt Dividends - -Taxable Dividends - -Total $5.95 $11.59

Your Estimated Annual Income $99.69

FINANCIAL MARKET INDICATORS

This Report Last ReportPreviousYear End

S&P 500 2104.50 1994.99 2058.90Long-Term Treasury Bonds 2.50% 3.00% 2.75%One-Month LIBOR .17% .17% .17%NASDAQ 4963.53 4635.24 4736.06


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24-Hour Assistance: (866) 4MLBUSINESS

Your Financial Advisor:LAWRENCE C LIEBERS717 5TH AVE 7TH FLNEW YORK NY [email protected]

WCMA® ACCOUNT January 31, 2015 - February 27, 2015

Online at: www.mymerrill.com

Net Portfolio Value: $200,997.95

1005008

DEBITSElectronic Transfers (50,190.83) (50,580.83)Margin Interest Charged - -Other Debits (120.00) (120.00)Visa Purchases (debits) - -ATM/Cash Advances - -Checks Written/Bill Payment (22,691.67) (32,555.67)

Subtotal (73,002.50) (83,256.50)Net Cash Flow ($72,887.50) ($82,026.75)Dividends/Interest Income 5.95 11.59Security Purchases/Debits - -Security Sales/Credits - -Closing Cash/Money Accounts $200,997.95Securities You Transferred In/Out - -

CASH FLOW This Statement Year to DateOpening Cash/Money Accounts $273,879.50CREDITSFunds Received - 1,114.75Electronic Transfers 115.00 115.00Other Credits - -

Subtotal 115.00 1,229.75

AMBIENT CORP7 WELLS AVE STE 11NEWTON MA 02459-3212

Account Number: 847-02058

Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other subsidiaries ofBank of America Corporation. MLPF&S is a registered broker-dealer, Member Securities Investor Protection Corporation (SIPC) and a wholly owned subsidiary of Bank of AmericaCorporation. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

3 of 9

ASSETS February 27 January 30Cash/Money Accounts 200,997.95 273,879.50Fixed Income - -Equities - -Mutual Funds - -Options - -Other - -

Subtotal (Long Portfolio) 200,997.95 273,879.50TOTAL ASSETS $200,997.95 $273,879.50

LIABILITIESDebit Balance - -Short Market Value - -TOTAL LIABILITIES - -NET PORTFOLIO VALUE $200,997.95 $273,879.50


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Account Number: 847-02058 24-Hour Assistance: (866) 4MLBUSINESSAMBIENT CORP

1005008

January 31, 2015 - February 27, 2015

4 of 9

YOUR WCMA BANK DEPOSIT INTEREST SUMMARY

Money Account Description Opening BalanceAverage

Deposit BalanceCurrentYield%

Interest onDeposits

ClosingBalance

Bank of America, N.A. 0 44,818 .02 0.69 155,237

TOTAL ML Bank Deposit Program 0 0.69 155,237

Money Account Description Opening BalanceAverage

Deposit BalanceCurrentYield%

Interest onDeposits

ClosingBalance

Bank of America, N.A. 45,755 45,755 .15 5.26 45,760

TOTAL Pref Deposit for Bus 45,755 5.26 45,760

YOUR WCMA ASSETSCASH/MONEY ACCOUNTS Total Estimated Estimated Estimated Est. AnnualDescription Quantity Cost Basis Market Price Market Value Annual Income Yield%CASH 0.95 0.95 .95L BANK DEPOSIT PROGRAM 155,237.00 155,237.00 1.0000 155,237.00 31 .02DIC INSURED NOT SIPC COVERED

REFERRED DEPOSIT (BUS) 45,760.00 45,760.00 1.0000 45,760.00 69 .15DIC INSURED NOT SIPC COVERED

TOTAL 200,997.95 200,997.95 100 .05

A change in tier assignment will automatically convert the class of BBIF money fund shares held in your account. The WCMA Agreement and Program Description and theBBIF Fund Prospectus contain more details.

LONG PORTFOLIO Adjusted/Total Estimated Unrealized Estimated Estimated CurrentCost Basis Market Value Gain/(Loss) Accrued Interest Annual Income Yield%

TOTAL 200,997.95 200,997.95 99 .05


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1005008

AMBIENT CORP Account Number: 847-02058

5 of 9

YOUR WCMA TRANSACTIONSDIVIDENDS/INTEREST INCOME TRANSACTIONS IncomeDate Transaction Type Quantity Description Income Year To Date02/27 Bank Interest BANK DEPOSIT INTEREST .6902/27 Bank Interest BANK DEPOSIT INTEREST .26

Income Total PREFERRED DEPOSIT (BUS) 5.00Subtotal (Taxable Interest) 5.95 11.59

NET TOTAL 5.95 11.59

CASH/OTHER TRANSACTIONSDate Transaction Type Quantity Description Debit Credit02/04 Wire Transfer WIRE TRF OUTP45035022055 20,936.9302/04 Wire Transfer WIRE TRF OUTP45035022343 6,258.0002/10 Direct Deposit ADP PAYROLL FEES 115.0002/19 Wire Transfer WIRE TRF OUTP45050015369 16,574.6502/19 Wire Transfer WIRE TRF OUTP45050015458 6,260.0002/27 Pre-Authdebt ADP PAYROLL FEES 161.25

Subtotal (Electronic Transfers) 50,190.83 115.0002/04 Journal Entry TRANSFR FEE P45035022055 30.0002/04 Journal Entry TRANSFR FEE P45035022343 30.0002/19 Journal Entry TRANSFR FEE P45050015369 30.0002/19 Journal Entry TRANSFR FEE P45050015458 30.00

Subtotal (Other Debits/Credits) 120.00

NET TOTAL 50,195.83

VISA ACCESS CARD ACTIVITY FOR LYNN FORD-HOLLINGWORTHMonthly Spending Limit - $10,000.00Trans. Date Date Cleared Description Location Debit Credit


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1005008

AMBIENT CORP Account Number: 847-02058 24-Hour Assistance: (866) 4MLBUSINESS

6 of 9

YOUR WCMA TRANSACTIONSVISA ACCESS CARD ACTIVITY FOR LYNN FORD-HOLLINGWORTH (continued)Trans. Date Date Cleared Description Location Debit CreditTotal Visa Access Card Activity .00Total Visa Credit Activity .00Total Visa Purchases (Net of Credits) .00Total Visa ATM/Cash Advances .00

TOTAL VISA CARD ACTIVITY .00

To change the amount of a spending limit for a cardholder, please call your Financial Advisor.

CHECKS WRITTEN/BILL PAYMENTDate Written Date Cleared Check Number Description Debit Credit02/03 02/05 17881 ABRAHAM KIMELMAN 2,484.0002/03 02/12 17882 SHIPMAN AND GOODWIN 412.0002/03 02/17 17883 UPSHOT SERVICES LLC 4,450.6702/03 02/10 17884 US TRUSTEE 13,000.0002/18 02/24 17885 MARKS PANETH & SHRON LLP 2,345.00

NET TOTAL 22,691.67

To report Lost or Stolen Visa Cards or Checks, please call (800) CMA-LOST.

YOUR WCMA MONEY ACCOUNT TRANSACTIONS

Date Description Withdrawals Deposits Date Description Withdrawals Deposits02/19 ML BANK DEPOSIT PROGRAM 157,743.00 02/27 ML BANK DEPOSIT PROGRAM 161.0002/24 ML BANK DEPOSIT PROGRAM 2,345.00

NET TOTAL 155,237.00


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1005008

AMBIENT CORP Account Number: 847-02058

7 of 9

YOUR WCMA MONEY FUND TRANSACTIONS

Date Description Sales Purchases Date Description Sales Purchases02/04 BBIF MONEY FUND 27,254.00 CLASS 2

CLASS 2 02/12 BBIF MONEY FUND 412.0002/05 BBIF MONEY FUND 2,484.00 CLASS 2

CLASS 2 02/17 BBIF MONEY FUND 185,088.0002/10 BBIF MONEY FUND 12,885.00 CLASS 2

NET TOTAL 228,123.00


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Customer ServicePlease promptly report any inaccuracy, discrepancy,and/or concern by calling Wealth Management ClientSupport at (800-MERRILL) within ten (10) business daysafter delivery of or communication of the accountstatement. You should re-confirm any oralcommunications in writing to protect your rights.About UsYou may review our financial statement at our offices:Merrill Lynch, Pierce, Fenner & Smith Incorporated(MLPF&S), One Bryant Park, New York, New York10036. If you request a copy of our financialstatement, we will mail it to you.We are associated with a NYSE Designated MarketMaker (DMM) that may make a market in thesecurity(ies) held in your account. At any time, theDMM may have a “long” or “short” inventory position insuch security(ies) and may be on the opposite side oftransactions in the security(ies) executed on the floorof the NYSE. We also act as a market maker, dealer,block positioner or arbitrageur in certain securities.These activities may put us or one of our affiliates onthe opposite side of transactions we execute for youand potentially result in trading profits for us or ouraffiliates.BofA Merrill Lynch Research is research produced byMLPF&S and/or one or more of its affiliates. Thirdparty research ratings from selected vendors areprovided, if available, for your information. Ourproviding these research ratings is not a solicitation orrecommendation of any particular security. MLPF&Sand its affiliates are not responsible for any third partyresearch and have no liability for such research. Youare responsible for any trading decision you makebased upon third party research ratings and reports.MLPF&S may make available to you certain securitiesand other investment products that are sponsored,managed, distributed or provided by companies thatare affiliates of Bank of America Corporation (BAC) or inwhich BAC has a substantial economic interest,including BofA ™ Global Capital Management.Merrill Edge is the marketing name for twobusinesses: Merrill Edge Advisory Center ™, whichoffers team-based advice and guidance brokerageservices; and a self-directed online investing platform.Both are made available through MLPF&S.Bank of America Merrill Lynch is the marketing namefor the global banking and global markets businessesof BAC. Lending, derivatives, and other commercialbanking activities are performed globally by bankingaffiliates of BAC, including Bank of America, N.A.,member Federal Deposit Insurance Corporation(FDIC). Securities, strategic advisory, and otherinvestment banking activities are performed globally

by investment banking affiliates of BAC (“InvestmentBanking Affiliates”), including, in the United States,MLPF&S and Merrill Lynch Professional Clearing Corp.,all of which are registered broker dealers and membersof Financial Industry Regulatory Authority (FINRA) andSecurities Investor Protection Corporation (SIPC), and,in other jurisdictions, locally registered entities.Investment products offered by Investment BankingAffiliates, including MLPF&S, ARE NOT FDIC INSURED,ARE NOT BANK GUARANTEED AND MAY LOSE VALUE.Additional InformationWe will route your equity and option orders to marketcenters consistent with our duty of best execution.Except for certain custodial accounts, we hold bondsand preferred stocks in bulk segregation. If there is apartial call for those securities, securities will berandomly selected from those held in bulk. Theprobability of your holdings being selected isproportional to the total number of customer holdingsof that particular security that we hold.This statement serves as a confirmation of certaintransactions during the period permitted to bereported periodically. Additional information isavailable upon written request.In accordance with applicable law, rules andregulations, your free credit balance is not segregatedand we can use these funds in our business. Your freecredit balance is the amount of funds payable uponyour demand. You have the right to receive, in thenormal course of business, any free credit balance andany fully paid securities to which you are entitled,subject to any obligations you owe in any of youraccounts.For clients enrolled in a sweep program, the balancein any bank deposit account or shares of any moneymarket mutual fund in which you have a beneficialinterest can be withdrawn or liquidated on your orderand the proceeds returned to your securities accountor remitted to you.You will have the right to vote full shares and we maysolicit voting instructions concerning these full sharesin your account. Voting shares in your account will begoverned by the then current rules and policies ofFINRA and the Securities Exchange Commission orother applicable exchanges or regulatory bodies.All transactions are subject to the constitution, rules,regulations, customs, usages, rulings andinterpretations of the exchange or market, and itsclearinghouse, if any, where the transactions areexecuted, and if not executed on any exchange, FINRA.You may obtain an investor brochure that includesinformation describing the FINRA Regulation PublicDisclosure Program (“Program”). To obtain a brochureor more information about the Program or your broker

contact the FINRA Regulation Public Disclosure ProgramHotline at (800)289-9999 or access the FINRA websiteat www.finra.org.We receive a fee from ISA® banks of up to 2% per annumof the average daily balances. We receive a fee from ouraffiliated banks of up to $100 per annum for each accountthat sweeps balances to the banks under the RASP andML bank deposit programs. We receive a fee from Bank ofAmerica, N.A. of up to 0.25% per annum of the average dailyPreferred Deposit ® and Preferred Deposit for Business®balances.Options CustomersFor all customers, including those who own options, pleasepromptly advise us of any material change in yourinvestment objectives or financial condition. Individualoptions commission charges have been included in yourconfirmation. You may request a summary of thisinformation.Margin CustomersIf this statement is for a margin account, it is a combinedstatement of your margin account and specialmemorandum account maintained for you pursuant toapplicable regulations. The permanent record of theseparate account, as required by Regulation T, is availablefor your inspection upon request. You should retain thisstatement for use with your next statement to calculateinterest charges, if any, for the period covered by thisstatement. The interest charge period will parallel thestatement period, except that interest due for the final dayof the statement period will be carried over and appear onyour next statement.Coverage for your AccountThe Securities Investor Protection Corporation (SIPC) andour excess-SIPC insurance policy do not cover commoditiesfutures contracts, fixed annuity contracts, hedge funds,private equity funds, commodity pools and other investmentcontracts (such as limited partnerships) that are notregistered with the US Securities Exchange Commission,precious metals, other assets that are not securities, asdefined by SIPC, and assets that are not held at MLPF&S,such as cash on deposit at Bank of America, N.A. or Bank ofAmerica California, N.A. (Merrill Lynch affiliated banks) orother depository institutions. Those bank deposits areprotected by the FDIC up to applicable limits. MLPF&S is nota bank. Unless otherwise disclosed, INVESTMENTSTHROUGH MLPF&S ARE NOT FDIC INSURED, ARE NOT BANKGUARANTEED AND MAY LOSE VALUE. To obtain informationabout SIPC, including the SIPC Brochure, contact SIPC athttp://www.sipc.org or (202)371-8300.

8 of 9008 1005


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your Consolidated Tax Reporting Statement (Form1099).Insurance Policies and Annuity ContractsInformation is based on data from the issuing insurer.We are not responsible for the calculation ofpolicy/contract values. Insurance policies and annuitycontracts are generally not held in your MLPF&Saccount. If we, as custodian or trustee, hold an annuitycontract that is a security, SIPC and excess-SIPCcoverage apply.Estimated Annual Income and Current YieldEstimated Annual Income and Current Yield for certaintypes of securities could include a return of principal orcapital gains in which case the Estimated AnnualIncome and Current Yield would be overstated.Estimated Annual Income and Current Yield areestimates and the actual income and yield might belower or higher than the estimated amounts. CurrentYield is based upon Estimated Annual Income and thecurrent price of the security and will fluctuate.

Fixed Income SecuritiesValues on your statement generally are based onestimates obtained from various sources. Thesevalues assume standard market conditions, are notfirm bids or offers and may vary from prices achieved inactual transactions, especially for thinly tradedsecurities. These values are generally for transactionsof $1 million or more, which often reflect morefavorable pricing than transactions in smaller amounts.You may pay more than these values if you purchasesmaller amounts of securities, or receive less if you sellsmaller amounts of securities.Prices and ValuationsWhile we believe our pricing information to bereliable, we cannot guarantee its accuracy. Pricinginformation provided for certain thinly traded securitiesmay be stale.Investments such as direct participation programsecurities (e.g., partnerships, limited liabilitycompanies, and real estate trusts which are not listedon any exchange), and alternative investments (e.g.commodity pools, private equity funds, private debitfunds, and hedge funds) are generally illiquidinvestments. No formal trading market exists for thesesecurities and their current values will likely bedifferent from the purchase price. Unless otherwiseindicated, and except for certain alternative investmentfunds sponsored by affiliates of MLPF&S, the valueshown on this statement for an investment in thesesecurities has been provided by the management,administrator or sponsor of each program or athird-party vendor, in each case without independentverification by MLPF&S. This value represents theirestimate of the value of the investor's interest in thenet assets of the program, as of a date no more than18 months from the date of this statement. Therefore,the values shown may not reflect actual market valueor be realized upon a sale. If an estimated value is notprovided, accurate valuation information is notavailable.

Cost Data/Realized Capital Gains & LossesCost Data and Realized Capital Gains/Losses areprovided in this statement for informational purposesonly. Please review for accuracy. Merrill Lynch is notresponsible for omitted or restated data. Pleaseconsult your tax advisor to determine the taxconsequences of your securities transactions. Yourstatement is not an official accounting of gains/losses.Please refer to your records, trade confirmations, and

Symbols and AbbreviationsInterest reported to the IRSGross Proceeds reported to the IRSDividends reported to the IRS

: Transactions reported to the IRSOCC Options Clearing Corporation# Transaction you requested same day

payment. Prior day's dividend retained tooffset cost of advancing payment on yourbehalf

N/A Price, value and/or cost data not availableN/C Not-CalculatedN/N Non-negotiable securitiesN/O Securities registered in your nameN/O CUST Non-negotiable securities registered in the

name of the custodianIndicates that BofA Merrill Lynch Researchhas upgraded ( or downgraded ( itsfundamental q ty opinion on a curity.

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The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it isrealized and expenses when they are incurred, regardless of when cash is actually received or paid.

CumulativeREVENUES Month Filing to DateGross Revenues $338,125Less: Returns and AllowancesNet Revenue $338,125COST OF GOODS SOLDBeginning InventoryAdd: PurchasesAdd: Cost of Labor 72,591Add: Other Costs (attach schedule) 22,706Less: Ending InventoryCost of Goods Sold $95,297Gross Profit $0 $242,828

OPERATING EXPENSESAdvertisingAuto and Truck ExpenseBad Debts 25,204Contributions 0Employee Benefits Programs 71,905Insider Compensation* 0Insurance 6,147 201,088Management Fees/Bonuses 0Office Expense 50,092Pension & Profit-Sharing Plans 0Repairs and Maintenance 0Rent and Lease Expense (34,354)Salaries/Commissions/Fees 281 789,786Supplies 11,158Taxes - Payroll 26,354Taxes - Real Estate 0Taxes - Other 23,390Travel and Entertainment 44,415Utilities 0Other (attach schedule) 4,367 279,134Total Operating Expenses Before Depreciation 10,795 1,488,172Depreciation/Depletion/Amortization 82,984Net Profit (Loss) Before Other Income & Expenses ($10,795) ($1,328,328)OTHER INCOME AND EXPENSESOther Income (attach schedule) 115Interest Expense 108,283Other Expense (attach schedule) 4,850Net Profit (Loss) Before Reorganization Items ($10,795) ($1,441,346)REORGANIZATION ITEMSProfessional Fees 22,154 633,112U. S. Trustee Quarterly Fees 19,500Interest Earned on Accumulated Cash from Chapter 11 6 59Gain (Loss) from Sale of Equipment 8,492,754Other Reorganization Expenses (attach schedule) 12,240Total Reorganization Expenses 22,148 (7,827,961)Income TaxesNet Profit (Loss) ($32,943) $6,386,615

*"Insider" is defined in 11 U.S.C. Section 101(31).

STATEMENT OF OPERATIONS(Income Statement)

MOR(04/07)



CumulativeBREAKDOWN OF "OTHER" CATEGORY Month Filing to Date

Other CostsOW and IW repairs 22,487Stock Based Compensation Expense 897

Other Operational ExpensesConsulting / Technical / Software/ BOD Fees 2,022 161,960OCP (Aboudi and Brounstein & OGR&P, Insight, &Marks Paneth) 2,345 63,069SW license/ Maintenance (723)Stock Based Compensation Expense 51,228Compliance services 3,600Other IncomeInterest received from July Funds 7Realized (gain) loss on FX Currency 108Other ExpensesRealized (gain) loss on FX Currency 1,550Bad debt expense 3,300Other Reorganization ExpensesBankruptcy filing notice in New York Times 12,240

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for thebankruptcy proceeding, should be reported as a reorganization item.

STATEMENT OF OPERATIONS - continuation sheet

MOR (04/07)



The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

BOOK VALUE AT END OF BOOK VALUE ON

ASSETS CURRENT REPORTING MONTH PETITION DATE

CURRENT ASSETS

Unrestricted Cash and Equivalents $200,998 $78,788Restricted Cash and Cash Equivalents (see continuation sheet) Accounts Receivable (Net) 3,535 24,664Notes ReceivableInventories (VALUES are PER GAAP) 349,430Prepaid Expenses 190,545 204,652Professional Retainers 41,653 44,237Other Current Assets (attach schedule) 50,409TOTAL CURRENT ASSETS $436,731 $752,180PROPERTY AND EQUIPMENTReal Property and ImprovementsMachinery and Equipment 1,298,437Furniture, Fixtures and Office Equipment 902,081Leasehold Improvements 31,275VehiclesLess Accumulated Depreciation (1,620,838)TOTAL PROPERTY & EQUIPMENT $0 $610,955OTHER ASSETSLoans to Insiders*Other Assets (attach schedule) $25TOTAL OTHER ASSETS $25

TOTAL ASSETS $436,731 $1,363,160

BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE

LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)Accounts Payable 2,022 Taxes Payable (refer to FORM MOR-4) 20,119Wages PayableNotes PayableRent / Leases - Building/EquipmentSecured Debt / Adequate Protection PaymentsProfessional Fees 143,881Amounts Due to Insiders*Other Postpetition Liabilities (attach schedule) 3,535 2,362,145TOTAL POSTPETITION LIABILITIES $169,557 $2,362,145LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)Secured Debt 5,042,833Priority Debt 17,771Unsecured Debt 849,071 961,048TOTAL PRE-PETITION LIABILITIES $849,071 $6,021,652

TOTAL LIABILITIES $1,018,628 $8,383,797OWNER EQUITYCapital Stock 17,682 17,682Additional Paid-In Capital 244,544,096 244,491,971

Partners' Capital Account

Owner's Equity AccountRetained Earnings - Pre-PetitionRetained Earnings - Postpetition (245,143,675) (251,530,290)Adjustments to Owner Equity (attach schedule)Postpetition Contributions (Distributions) (Draws) (attach schedule)NET OWNER EQUITY ($581,897) ($7,020,637)

TOTAL LIABILITIES AND OWNERS' EQUITY $436,731 $1,363,160


BALANCE SHEET

MOR (04/07)



BALANCE SHEET - continuation sheet


ASSETS CURRENT REPORTING MONTH PETITION DATE

Other Current AssetsSecurity Deposit: landlord $50,409

Other AssetsMorgan Stanley Account Fee Refund 25


LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE

Other Postpetition LiabilitiesDeferred Rent $110,124Deferred Revenue 2,227,363Accrued Warranty 9,362Accrued Liabilities 15,296Deposit for insurance tailsAR Payable to Ericsson 3,535

Adjustments to Owner Equity

Postpetition Contributions (Distributions) (Draws)

Restricted Cash is cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is into a separate account, such as an escrow account.

MOR (04/07)



The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.Attach photocopies of any tax returns filed during the reporting period.

Beginning Amount EndingTax Withheld or Amount Date Check No. Tax

Liability Accrued Paid Paid or EFT LiabilityFederalWithholding $0 $0 $0 $0FICA-EmployeeFICA-EmployerUnemploymentIncomeOther:_________________ Total Federal Taxes $0 $0 $0 $0State and LocalWithholding $0 $0 $0 $0SalesExcise 20,119 0 $20,119UnemploymentReal PropertyPersonal PropertyOther:_________________ Total State and LocalTotal Taxes $20,119 $0 $0 $20,119

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

Number of Days Past DueCurrent 0-30 31-60 61-90 Over 90 Total

Accounts Payable 2,022 $2,022Wages Payable 0Taxes Payable 20,119 20,119Rent/Leases-BuildingRent/Leases-EquipmentSecured Debt/Adequate Protection Payments 0Professional Fees 27,502 14,946 0 12,374 89,059 143,881Amounts Due to Insiders*Other:__________________________Other:__________________________Total Postpetition Debts $29,524 $14,946 $0 $32,493 $89,059 $166,022

Explain how and when the Debtor intends to pay any past-due postpetition debts.


STATUS OF POSTPETITION TAXES

MOR(04/07)


Ambient Corporation

Accounts Payable Aging

As of 2/28/2015

# Vendor Name Balance Due Future Remit 0 ‐ 30 31 ‐ 60 61 ‐ 90 90+

1 Abraham Kimelman (2,022.00)$ (2,022.00)$

20 MA Department of Revenue (20,118.63)$ (20,118.63)$

(22,140.63)$ (2,022.00)$ (20,118.63)$

3 BAYARD (76,711.54)$ (12,506.88)$ (10,256.96)$ (9,141.60)$ (44,806.10)$

12 GAVIN/SOLMONESE LLC (52,569.30)$ (6,505.60)$ (4,689.20)$ (3,129.50)$ (38,245.00)$

22 Shipman and Goodwin (5,325.10)$ (103.00)$ (5,222.10)$

27 UpShot Services LLC (9,275.03)$ (8,489.63)$ (785.40)$

(143,880.97)$ (27,502.11)$ (14,946.16)$ (12,374.10)$ (89,058.60)$

Total AP 7/28/15 ‐ 2/28/15 (166,021.60)$ (29,524.11)$ (14,946.16)$ ‐$ (32,492.73)$ (89,058.60)$



Accounts Receivable Reconciliation AmountTotal Accounts Receivable at the beginning of the reporting period $0+ Amounts billed during the period 3,535- Amounts collected during the period 0Bad debt expense write-off 0Total Accounts Receivable at the end of the reporting period 0

Accounts Receivable Aging Amount0 - 30 days old 3,53531 - 60 days old61 - 90 days old91+ days oldTotal Accounts Receivable 3,535Amount considered uncollectible (Bad Debt)Accounts Receivable (Net) $3,535

DEBTOR QUESTIONNAIRE

Must be completed each month Yes No1. Have any assets been sold or transferred outside the normal course of business

this reporting period? If yes, provide an explanation below.

2. Have any funds been disbursed from any account other than a debtor in possession

account this reporting period? If yes, provide an explanation below.

3. Have all postpetition tax returns been timely filed? If no, provide an explanation

below.

4. Are workers compensation, general liability and other necessary insurance

coverages in effect? If no, provide an explanation below.

5. Has any bank account been opened during the reporting period? If yes, provide

documentation identifying the opened account(s). If an investment account has been opened

provide the required documentation pursuant to the Delaware Local Rule 4001-3.

(4) The Debtor is no longer operating and does not require insurance

X

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

X

X

X

X

MOR(04/07)


Documents

Case 14-11791-KG Doc 229 Filed 03/18/15 Page 1 of 23upshotservices.s3.amazonaws.com/files/a04e9297-9e... · Cash Disbursement Journal ... A bank reconciliation must be ... Trans.Date